It also says sales last month were 23.7 per cent above the 10-year May sales average and the third-highest selling May on record, despite a 15 per cent foreign buyers tax imposed by the B.C. government last year.

Board president Jill Oudil says sales are inching closer to the record-breaking pace of 2016, but she says the market this year is being driven by a demand for townhomes and condominiums, rather than single-family homes.

The composite benchmark price for all residential properties in Metro Vancouver is currently $967,500, an 8.8 per cent increase over May 2016 and a 2.8 per cent increase compared with April 2017.

This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy - Listing data updated on May 25, 2019.